CFM International has finalized an agreement with China’s LCC Spring Airlines for the purchase of 120 LEAP-1A engines to power its 60 Airbus A320neo aircraft.

The deal was signed in conjunction with French President Emmanuel Macron’s visit to China.

The aircraft order was announced in December 2015 and the engine order was previously announced at the 2017 Paris Air Show. The total value of the transaction is $2.9 billion and the aircraft are scheduled for delivery from 2019-2023.

In addition, the Shanghai-based carrier and CFM signed a 10-year rate-for-flight-hour agreement, under the terms of which CFM will support the entire fleet on a dollar-per-flight-hour basis.

Linda Blachly